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A man walks past a sign of Geely's new premium electric vehicle (EV) brand Zeekr at its factory in Ningbo, Zhejiang province, China April 15, 2021. Geely in December said Zeekr had confidentially filed for a U.S. IPO, without detailing size or listing date. If successful, a $1 billion IPO would be the largest U.S. listing by a Chinese firm for over two years since ride-hailing giant Didi raised $4.4 billion in mid 2021. Geely, formally Zhejiang Geely Holding Group (GEELY.UL), established Zeekr in April 2021 to tap into increasing Chinese demand for high-end EVs. ($1 = 7.2883 Chinese yuan renminbi)Reporting by Julie Zhu in Hong Kong and Scott Murdoch in Sydney; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.
Persons: HONG KONG, Geely, Zeekr, Didi, Andy, Julie Zhu, Scott Murdoch, Christopher Cushing Organizations: REUTERS, Yilei, U.S, Zhejiang Geely Holding, Thomson Locations: Ningbo, Zhejiang province, China, HONG, Hangzhou, Hong Kong, Singapore, London , New York, Boston , California, U.S, Zhejiang, Netherlands, Sweden, Israel, Kazakhstan, Sydney
The visit is Dimon's first to mainland China since the pandemic gathered pace in 2020 and closed the world's second-largest economy for almost three years as it enforced some of the world's most stringent restrictions. He will also visit Hong Kong in early June after the Shanghai trip, two of the sources added. Dimon visited the Asian financial hub of Hong Kong to meet the bank's staff and clients in November 2021. A JPMorgan spokesperson in Hong Kong declined to comment on Dimon's visit to mainland China and Hong Kong. Reporting by Julie Zhu in Hong Kong, Scott Murdoch in Sydney and Nupur Anand in New York; Editing by Sumeet Chatterjee and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.
The Shenzhen-listed company, known for its flagship SF Express delivery business, has started preparations for the Hong Kong listing and aims to file the prospectus with the Hong Kong exchange by June, one of the sources said. SF Holding, which has a market value of 267 billion yuan ($38.63 billion), did not immediately respond to Reuters' request for comment. Bloomberg News on Friday first reported SF Holding's listing plans, citing people familiar with the matter. Its express delivery business covers nearly 100 countries overseas including the United States and Japan, according to its 2022 annual report. SF went public in Shenzhen in 2017 and listed two of its units - SF Real Estate Investment Trust (2191.HK) and Hangzhou SF Intra-City Industrial (9699.HK) - in Hong Kong in 2021.
A CHINESE COMPANY? Those rules followed a regulatory crackdown that has slowed U.S. listings by Chinese companies to a trickle. Chinese companies raised only around $230 million in U.S. listings last year, a massive drop from $12.9 billion in 2021, according to Refinitiv data. It was not immediately clear if SHEIN is planning to officially seek Chinese regulatory approval for its IPO. The moves were designed so that SHEIN could bypass seeking Chinese regulatory approval for the listing, sources have previously said.
That compares with a valuation of about $9 billion in its maiden external fundraising last year. In doing so, it joins a growing list of Chinese automakers looking to launch or expand sales of EVs in the region. The automotive group led by founder Li Shufu now houses seven brands manufacturing electric vehicles, of which three are high-end brands. According to two of the sources, Zeekr also considered Hong Kong as its listing venue but picked New York in the hope of achieving a higher valuation. Zeekr was established by Geely, formally known as Zhejiang Geely Holding Group (GEELY.UL), in April 2021 to tap into increasing Chinese demand for premium EVs.
HONG KONG, Dec 12 (Reuters) - Zeekr, Chinese automaker Geely's upmarket electric car brand, has confidentially filed for a U.S. initial public offering, aiming to raise more than $1 billion, three sources with direct knowledge of the matter told Reuters. That compares with a valuation of about $9 billion in its maiden external fundraising last year. In doing so, it joins a growing list of Chinese automakers looking to launch or expand sales of EVs in the region. According to two of the sources, Zeekr also considered Hong Kong as its listing venue but picked New York in the hope of achieving a higher valuation. It said in October it would spin Zeekr off but did not identify a listing venue or the likely value of an offering.
HONG KONG/SYDNEY, Nov 15 (Reuters) - The fintech arm of Chinese e-commerce firm JD.Com (9618.HK) aims to win Beijing regulators' approval to list in Hong Kong as soon as the end of the year, three people with direct knowledge of the matter said, after a first attempt failed earlier this year. Reuters reported in May that JD Tech's original plan for a Hong Kong IPO was put on ice because it could not get regulatory approval for the deal to proceed. As a domestically incorporated company, JD Tech - JD.Com's fintech, cloud and artificial intelligence unit - needs approval from the China Securities Regulatory Commission (CSRC) to list offshore, including in the Chinese-controlled territory of Hong Kong. JD Tech, which was hived off as a separate unit in mid-2017, had appointed several banks to work on the IPO, but progress had slowed as it failed to win regulatory approval first time around, sources have previously told Reuters. read moreReporting by Julie Zhu and Kane Wu in Hong Kong and Scott Murdoch in Sydney; Editing by Sumeet Chatterjee and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.
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